Moldovan winemaker Purcari sees 38% sales increase

Moldovan winemaker Purcari, which recently listed its shares on the Bucharest Stock Exchange, recorded a 38% increase in sales last year, reaching a turnover of RON 147 million (EUR 32 million). The net profit also went up by 37%, to RON 32 million (EUR 7 million). Romania was the company’s fastest-growing market in 2017, with a 69% increase in sales compared to 2016. At the same time, the company’s premium Purcari brand increased by 65%, being the best-performing brand in its portfolio. This year, the company expects a 24-28% organic growth in revenues and a net margin of 23-26%, higher than last year (21.8%). “We are bullish about 2018, given the poor harvest all over the globe, a trend to which Romania and Moldova were fortunate exceptions. The inevitable price rises by competition will benefit our bottom line,” said Purcari CEO and founder Victor Bostan. Purcari listed its shares on the Bucharest Stock Exchange in February afteran Initial Public Offering (IPO) worth EUR 40 million for 49% of its shares. The company currently has a market capitalization of EUR 84 million. editor@romania-insider.com